How Alpha Homora v2 Will Boost Yield Farmes Gains

Reynaldo Marquez

Last Updated: April 21, 2021 8:38 pm

2 mins read

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Via its Twitter handle Alpha Finance Lab has announced the relaunch of Alpha Homora in its second iteration. To be deployed on Ethereum, the team behind this DeFi protocol has called the event a “milestone towards our mission to build and incubate an innovative Alpha ecosystem”.

After the launch, Alpha Homora’s ecosystem could see an important rise in adoption and growth for the platform, as the official post claims. Also, there will be a new set of partnerships already in discussion, amongst them Polygon for integration with its second layer solution and multi-chain platform, more protocol fees for ALPHA holders.

Users of Alpha Homora will benefit immediately after the launch with new features. Yield farmers will be able to leverage more pools on decentralized exchanges (DEX) Uniswap and Sushiswap. As a bonus, protocols Curve and Balancer will offer more opportunities to maximize profits for yield farmers and liquidity providers. Both users will have leverage available, according to Alpha Finance Lab:

The scalable architecture of Alpha Homora V2 means the platform can accommodate more leveraged pools than Alpha Homora v1. Furthermore, these extra leveraged pools will include stablecoin-based pools and many more, meaning leveraged pools will no longer be just ETH-based.

In addition, Alpha Homora v2 will integrate more assets, besides ETH and stablecoins USDT and USDC, to yield farm, provide liquidity, and borrow. Alpha Finance Lab is yet to announce which assets specifically will be available. The team adds the following:

from the yield farming side, the relaunch of Alpha Homora V2 will allow leveraged yield farmers/liquidity providers to use LP tokens as collateral! The ‘Bring Your Own LP’ (BYOLP) tokens feature supports LP tokens from Uniswap V2, SushiSwap, Curve, and Balancer.

Alpha v2 will use base and derivatives tokens, offer lenders new opportunities to increase capital efficiency with ibTokensV2. The protocol will operate with an oracle aggregator contracts. Therefore, they will feed their platform with multiple trusted oracle providers. DeFiance Capital’s Wangarian said the following on Alpha Finance Lab new product and its benefits for the users:

Users can now maximize the potential that leveraged yield farming provides without obtaining unnecessary short exposure. I am confident that traction for Alpha’s products will regain momentum.

Alpha Homora’s Migration From v1 To v2

Upon its launch, the protocol’s second iteration will go through a migration process. In that way, the positions and liquidity in the first iteration will be moved to the new platform. Alpha Finance Lab claims there will be a “smooth” transition for users.

Finally, the new version of these products is expected to provide an “enhanced” experience, “improved” security, and other features. The products, according to the team, will capture the demand not met in the traditional financial system.

ETH is trading at $2.409,66 with a 3.6% profit in the daily chart. In the weekly chart, ETH has 4.6% profit and 34.6% in the past month.

Ethereum ETH ETHUSD — ETH with small gains in the daily chart. Source: ETHUSD Tradingview

The scalable architecture of Alpha Homora V2 means the platform can accommodate more leveraged pools than Alpha Homora v1. Furthermore, these extra leveraged pools will include stablecoin-based pools and many more, meaning leveraged pools will no longer be just ETH-based.

from the yield farming side, the relaunch of Alpha Homora V2 will allow leveraged yield farmers/liquidity providers to use LP tokens as collateral! The ‘Bring Your Own LP’ (BYOLP) tokens feature supports LP tokens from Uniswap V2, SushiSwap, Curve, and Balancer.

Users can now maximize the potential that leveraged yield farming provides without obtaining unnecessary short exposure. I am confident that traction for Alpha’s products will regain momentum.

Alpha Homora’s Migration From v1 To v2

ETH is trading at $2.409,66 with a 3.6% profit in the daily chart. In the weekly chart, ETH has 4.6% profit and 34.6% in the past month.

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

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